اشترك بالحزمة الذهبية واحصل على وصول غير محدود شمرا أكاديميا
تسجيل مستخدم جديدAn Economic Model of Coupled Exponential Maps
135
0
0.0
(
0
)
اسأل ChatGPT حول البحث
ﻻ يوجد ملخص باللغة العربية
In this work, an ensemble of economic interacting agents is considered. The agents are arranged in a linear array where only local couplings are allowed. The deterministic dynamics of each agent is given by a map. This map is expressed by two factors. The first one is a linear term that models the expansion of the agents economy and that is controlled by the {it growth capacity parameter}. The second one is an inhibition exponential term that is regulated by the {it local environmental pressure}. Depending on the parameter setting, the system can display Pareto or Boltzmann-Gibbs behavior in the asymptotic dynamical regime. The regions of parameter space where the system exhibits one of these two statistical behaviors are delimited. Other properties of the system, such as the mean wealth, the standard deviation and the Gini coefficient, are also calculated.
قيم البحث
اقرأ أيضاً
This paper analyzes the equilibrium distribution of wealth in an economy where firms productivities are subject to idiosyncratic shocks, returns on factors are determined in competitive markets, dynasties have linear consumption functions and governm
ent imposes taxes on capital and labour incomes and equally redistributes the collected resources to dynasties. The equilibrium distribution of wealth is explicitly calculated and its shape crucially depends on market incompleteness. In particular, a Paretian law in the top tail only arises if capital markets are incomplete. The Pareto exponent depends on the saving rate, on the net return on capital, on the growth rate of population and on portfolio diversification. On the contrary, the characteristics of the labour market mostly affects the bottom tail of the distribution of wealth. The analysis also suggests a positive relationship between growth and wealth inequality.
In the current era of worldwide stock market interdependencies, the global financial village has become increasingly vulnerable to systemic collapse. The recent global financial crisis has highlighted the necessity of understanding and quantifying in
terdependencies among the worlds economies, developing new effective approaches to risk evaluation, and providing mitigating solutions. We present a methodological framework for quantifying interdependencies in the global market and for evaluating risk levels in the world-wide financial network. The resulting information will enable policy and decision makers to better measure, understand, and maintain financial stability. We use the methodology to rank the economic importance of each industry and country according to the global damage that would result from their failure. Our quantitative results shed new light on Chinas increasing economic dominance over other economies, including that of the USA, to the global economy.
Socio-economic inequality is measured using various indices. The Gini ($g$) index, giving the overall inequality is the most commonly used, while the recently introduced Kolkata ($k$) index gives a measure of $1-k$ fraction of population who possess
top $k$ fraction of wealth in the society. This article reviews the character of such inequalities, as seen from a variety of data sources, the apparent relationship between the two indices, and what toy models tell us. These socio-economic inequalities are also investigated in the context of man-made social conflicts or wars, as well as in natural disasters. Finally, we forward a proposal for an international institution with sufficient fund for visitors, where natural and social scientists from various institutions of the world can come to discuss, debate and formulate further developments.
Technological improvement is the most important cause of long-term economic growth, but the factors that drive it are still not fully understood. In standard growth models technology is treated in the aggregate, and a main goal has been to understand
how growth depends on factors such as knowledge production. But an economy can also be viewed as a network, in which producers purchase goods, convert them to new goods, and sell them to households or other producers. Here we develop a simple theory that shows how the network properties of an economy can amplify the effects of technological improvements as they propagate along chains of production. A key property of an industry is its output multiplier, which can be understood as the average number of production steps required to make a good. The model predicts that the output multiplier of an industry predicts future changes in prices, and that the average output multiplier of a country predicts future economic growth. We test these predictions using data from the World Input Output Database and find results in good agreement with the model. The results show how purely structural properties of an economy, that have nothing to do with innovation or human creativity, can exert an important influence on long-term growth.
It is known that individual opinions on different policy issues often align to a dominant ideological dimension (e.g. left vs. right) and become increasingly polarized. We provide an agent-based model that reproduces these two stylized facts as emerg
ent properties of an opinion dynamics in a multi-dimensional space of continuous opinions. The mechanisms for the change of agents opinions in this multi-dimensional space are derived from cognitive dissonance theory and structural balance theory. We test assumptions from proximity voting and from directional voting regarding their ability to reproduce the expected emerging properties. We further study how the emotional involvement of agents, i.e. their individual resistance to change opinions, impacts the dynamics. We identify two regimes for the global and the individual alignment of opinions. If the affective involvement is high and shows a large variance across agents, this fosters the emergence of a dominant ideological dimension. Agents align their opinions along this dimension in opposite directions, i.e. create a state of polarization.
سجل دخول لتتمكن من نشر تعليقات
التعليقات
جاري جلب التعليقات
سجل دخول لتتمكن من متابعة معايير البحث التي قمت باختيارها
